The Association of Master Bakers and Caterers of Nigeria (AMBCN) has directed its members to increase prices of bread and other bakeries by 30%, citing higher raw material costs.

AMBCN in a statement issued by its National President, Mansur Umar attributed the increase to rising costs of baking ingredients/materials. 

“After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent.

“The incessant increase of prices of flour and other baking materials is responsible for the decision.

“In the last six months, one truck of flour that we used to buy at less than N6m is now N9m.

The association also urged the Federal Government to reduce regulatory roadblocks in the sector calling for NAFDAC to be the sole regulator of bakeries.

It is worthwhile to note that the increase comes just a month after 

the Central Bank of Nigeria announced plans to place sugar and wheat on its FX restriction list, stressing that the nation must work to produce the raw materials in rather than import them.